£150m on new stars puts Spurs in with big spenders

Well funded: Harry Redknapp has spent millions on players since taking over as manager

Figues out today have revealed an astonishing level of spending by Tottenham over the last 16 months, only surpassed by the billionaires at Manchester City in the Premier League.

Tottenham's latest financial results have shown an outlay of almost £150million on new players as the club revealed record profits in the year ending June 2009.

The pre-tax figure of £33.4m for the period was helped by the sale of Dimitar Berbatov to Manchester United and Robbie Keane to Liverpool.

Both of those heavyweights as well as Chelsea and Arsenal have spent less on players than their London rivals.

Only City - whose Abu Dhabi owners handed manager Mark Hughes £233m - have had a bigger outlay than Spurs, who have reshaped their squad following the departure of Juande Ramos and the appointment of Harry Redknapp as manager.

Tottenham splashed out £119.3m before the end of the financial year, with another £29.4m invested since on Peter Crouch, Sebastien Bassong, Niko Kranjcar, Kyle Naughton and Kyle Walker. Chairman Daniel Levy, who has also overseen projects on a new training ground and stadium on the site of White Hart Lane, said: "We have made significant progress in delivering on our long-term vision for the club.

"We have always had three key priorities and you will have heard them often repeated - investment in the first team, a new training centre and an increased capacity, state-of-the-art new stadium.

"We have assembled what we believe to be one of the most talented squads we have had during our time in the Premier League, the ground is being turned and pitches are being laid for the new training centre at Bulls Cross in Enfield.

"We have also submitted a planning application for a stunning new stadium on a site right next to our existing stadium."

The figures also estimate that the club have total assets of almost £300m.

Should Spurs maintain their current League position of fourth and qualify for the Champions League, the overall value of the club would also then be expected to rise significantly.